The PAC-12 turned down a generous rights offer from ESPN
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The problem with this particular group of greedy fucks is that they also have no idea what they’re doing:
For as much as has been made about the offer the Pac-12 got from Apple which led to the conference’s collapse in recent weeks, it wasn’t even the best offer the conference got over the last year.
Per John Canzano and his Bald Faced Truth newsletter, ESPN made an offer of $30 million per school annually last fall for the Pac-12’s entire media rights package and the Pac-12 Network.
The Pac-12’s board reportedly turned the offer down and demanded more money. That went well.
Some brilliant negotiating there! Great sense of who has the leverage!
Obviously — and this is one source of the problem — for the top schools in the conference this will work out OK from a narrow financial standpoint. But the destruction of the conference is terrible in the broader sense, and the schools who don’t have an obvious landing point get screwed.
It’s also worth considering how the destruction of the PAC-12 will affect other sports. Keith Law points out that this will have very bad consequences for what has historically been a great baseball conference, and I’m sure the rapacious ineptitude of the PAC-12’s leadership will adversely affect many other sports as well.
…Good piece by Marisa Ingemi about how the inadvertent suicide of the PAC-12 will affect women’s hoops.